Gera Developments launches Gera’s Isle Royale

PUNE: Like luxury cars, high-end housing with a flat costing more than a crore has seen great demand in the city. People are ready to pay for amenities and elegance said Gera Developments MD Rohit Gera during announcement of the developer's launch of a super premium lifestyle residential project "Gera's Isle Royale" located at Bavdhan.

"There is a great demand supply balance in luxury housing segment. Seventy-three per cent flats of a total 12813 luxury segment flats in the city have been sold by the end of June this year. Currently Pune has around 2,300 projects going on and merely 10 percent contributes in luxury segment," says Gera.

Gera added that there has been rise in the supply of luxury flats by 60 percent and eastern and western corridors of Pune are expanding. "In June 2012 we had 124 projects and in June this year we had around 238 projects actually going on in luxury segment. The supply has been doubled in just one year in luxury segment," he said adding that the profile customers of these segments as upper class service people from IT, BPO and manufacturing sector along with business category and people from Mumbai as well as Sangali, Satara Kolhapur.

Gera's Isle Royale will have exclusive independent super luxury villas and lavish high rise apartments. According to Gera among areas with upcoming luxury projects includes Kharadi, Kalyani Nagar, Bawdhan and Baner. He said luxury housing forms 5 per cent of the total real estate business in Pune.

"Bavdhan is favourable for people IT, manufacturing, service or be professionals and still be close to their place of work. The major movement of customers is from existing home buyers in Baner and Kothrud who are looking to move out of the densely populated areas. It also has a very strong potential of being a second home especially for people from Mumbai as well as an investment option," says Gera.

The bookings for Gera's Isle Royale will open on October 5. It will offer state-of-the-art home automation technology which includes world class features like I-pad controls accessible from any part of the world. The new project will have Wi-Fi connectivity, guard monitoring systems, intrusion sensors with hooters, private elevators. Among other amenities Gera's new project will have a luxurious 8,500 square feet swimming pool with underwater lighting, an elder's corner as well as tennis and squash courts.

MUMBAI: IRB Infrastructure Developers Ltd, one of the largest BOT road developers in India, announced that it has commenced toll collection on its Jaipur Deoli BOT Project.The Jaipur Deoli BOT project, implemented by the wholly-owned SPV of the Company viz. IRB Jaipur Deoli Tollways Pvt. Ltd (SPV), has been issued a Provisional Certificate by the Competent Authority effective September 27, 2013. The project has been commissioned in stipulated time. Consequently, the SPV has started partial toll

PUNE: This question is being asked by countless Puneites still living in rented properties and by the people seeking to make this beautiful city their home. The answer is – it is certainly the right time to invest in property in the right city, right location, at the right price and for the right duration. Not all cities currently, have real estate markets which are performing well.

MUMBAI: Tata Capital Housing Finance may not see much improvement in its Net Interest Margins this financial year, due to higher cost of funds and pressure from high inflation, said R Vaithianathan, Managing Director, Tata Capital Housing Finance.

MUMBAI: The Indian economy has been under pressure with the recent depreciation of the rupee and capital outflows adding to structural constraints which are weighing heavily on its prospects for returning to a high growth path, says a new Asian Development Bank (ADB) report.

MUMBAI: The last born in the family always gets the best in terms of resources, love and also gets the advantage of being parented by more experienced parents. Similarly, in the real estate space in Mumbai, Panvel is now getting the benefit of the following:

MUMBAI: After the unexpected policy rate hike on September 20 by the Reserve Bank of India (RBI), many banks are contemplating an increase in their lending rates. If they decide to hike their base rates, home loan borrowers may have to deal with a ballooning EMI once again within a short span of time.

MUMBAI: After recording sluggish growth in the previous financial year, bank credit (loan) to commercial real estate (CRE) projects has picked up in the current financial year, registering a 17.4 per cent growth in August, compared to 8.6 per cent during the corresponding period of FY13.

MUMBAI: The market has beaten down shares of real estate companies over the past three months, as news of over-supply, weak demand and regulatory action kept coming. Analysts claim they are bored with all this talk of gloom and doom because the situation on the ground is not as bad as it was in 2009.